Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Describe the process of computing the equivalent cash value?
Expert Solution
Step 1
Equivalent cash value is the value that has equal worth as much as cash has. Generally, bank balance, as well as liquid securities like T-bills as well as commercial papers, can be converted into cash on shorter notice. So they are included in equivalent cash value.
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